5 tips to get that pay rise!

Who doesn't love having more cash to splash? Here are some simple tricks on how to ask for a pay rise.

Are you getting all the worker entitlements you deserve?Source:Supplied

Workers across Australia are being underpaid millions of dollars a year and it’s becoming more important than ever to understand your pay slip.

Whether it’s wages or super, unscrupulous employers are not paying what they should, and new world of electronic payments and pay slips is making people less likely to check they’re receiving the right money.

AMP financial adviser Darren James says the ATO has useful online calculators to help you.Source:Supplied

Industry Super Australia says one in three Australians are missing out on super they are entitled to, totalling $16 million a day and nearly $6 billion a year.

Financial strategist Theo Marinis said the vast majority of employers paid their workers super “but there’s still too large a percentage who don’t”.

“Your pay slip might show it’s going in but you have to reconcile that with your super statements,” he said.

“It’s got to be paid quarterly 28 days after each quarter, so it’s a good idea once a quarter to open your account online and make sure it’s gone in.”

Online accounts made these things easier to check than the past practice of reading super statements once a year, Mr Marinis said. And some super funds will send you texts every time a payment goes in.

Fair Work Australia says pay slips must be provided within one working day of payday, even for employees on leave, and can be either in electronic form or hard copy.

Showing leave balances on pay slips is “best practice”, it says, but not a requirement. “Employers do need to tell employees their leave balances if they ask for it.”